Noah (NYSE:NOAH) Trading 5.9% Higher - Time to Buy?

Noah Holdings Limited (NYSE:NOAH - Get Free Report)'s share price shot up 5.9% during mid-day trading on Wednesday . The stock traded as high as $10.98 and last traded at $11.03. 55,256 shares changed hands during trading, a decline of 46% from the average session volume of 102,520 shares. The stock had previously closed at $10.42.

Analyst Ratings Changes

Several brokerages have recently issued reports on NOAH. Wall Street Zen lowered Noah from a "buy" rating to a "hold" rating in a report on Thursday, March 20th. UBS Group restated a "neutral" rating and issued a $11.50 target price on shares of Noah in a report on Friday, March 28th. Finally, JPMorgan Chase & Co. upgraded Noah from a "neutral" rating to an "overweight" rating and set a $11.50 target price for the company in a report on Wednesday, April 9th.

Noah Price Performance

The firm has a 50 day simple moving average of $9.30 and a two-hundred day simple moving average of $10.63. The stock has a market cap of $732.15 million, a price-to-earnings ratio of 9.46 and a beta of 0.79.

Noah (NYSE:NOAH - Get Free Report) last released its earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. The firm had revenue of $84.69 million for the quarter. On average, sell-side analysts expect that Noah Holdings Limited will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

Large investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings in shares of Noah by 61.9% during the first quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager's stock worth $6,563,000 after buying an additional 266,602 shares in the last quarter. First Beijing Investment Ltd grew its holdings in shares of Noah by 19.5% during the first quarter. First Beijing Investment Ltd now owns 163,443 shares of the asset manager's stock worth $1,545,000 after buying an additional 26,710 shares in the last quarter. Everstar Asset Management LLC bought a new position in shares of Noah during the first quarter worth about $217,000. Eschler Asset Management LLP grew its holdings in shares of Noah by 70.8% during the first quarter. Eschler Asset Management LLP now owns 59,600 shares of the asset manager's stock worth $563,000 after buying an additional 24,700 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Noah by 307.2% during the first quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock worth $170,000 after buying an additional 13,564 shares in the last quarter. 42.67% of the stock is currently owned by institutional investors.

Noah Company Profile

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.